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National Grid Sells Renewables Unit to Brookfield for $1.735B
LRE Completes Caprock Wind Repower, Enhancing Grid Resilience
Oklo Partners with DOE & Oak Ridge to Advance Next-Gen Nuclear Materials
United Airlines Invests in Heirloom to Scale Direct Air Capture
New APR Energy Deploys 100MW+ Mobile Gas Turbines for AI Hyperscaler
Fidelis & B&W Partner on Low-Carbon Energy Project in West Virginia
Diamondback CEO Travis Stice to Transition to Executive Chairman
Targa Reports Record $4.14B 2024 EBITDA, Raises 2025 Guidance
LongPath Becomes First EPA-Approved Continuous Methane Monitoring Tech
The almost headlines
In case you missed
Transaction Value: $1.735B enterprise value, subject to completion adjustments.
Asset Portfolio: Includes 1.8 GW operating capacity & 1.3 GW under construction in the U.S.
Strategic Refocus: Aligns with National Grid’s network expansion & energy transition priorities.
Closing Timeline: Expected H1 FY2026, pending regulatory approvals.
Project Upgrade: Replaced 80 aging 1 MW turbines with 20 advanced 4.5 MW models, boosting capacity & efficiency.
Environmental Benefits: 90% of decommissioned turbine materials recycled, diverting 15,000+ tons from landfills.
Local Economic Impact: Supported 180 construction jobs, generating $9M in local tax revenue.
LRE Growth Plan: Targets 10 GW of operational assets by 2028, reinforcing U.S. renewable energy leadership.
DOE Collaboration: Oklo joins DOE's Voucher Program to develop advanced materials for its Aurora fast reactor.
Funding & Support: Backed by the Bipartisan Infrastructure Law & Inflation Reduction Act, with ENERGYWERX & Oak Ridge Lab leading research.
Industry Impact: Aims to enhance manufacturing, supply chain efficiency, & scalability for 14 GW+ of announced customers.
Tech Development: Builds on decades of operational data, leveraging DOE fuel awards & advanced fuel recycling research.
Funding & Investors: $4.3M seed round led by Exergon, with backing from Gore Ventures, AP Ventures, & Halliburton Labs.
Carbon Capture Tech: Uses granulated metal carbonate sorption to achieve 95% CO₂ capture from industrial sources.
Market Validation: Two paid pilot projects launching in 2025, supporting emissions reductions in power plants & waste-to-energy facilities.
Scalability & Impact: Developed from Caltech research, targeting hard-to-abate industries with cost-effective, scalable solutions.
Investment Scale: Supports up to 500,000 tons of carbon removal, expanding United’s Sustainable Flight Fund.
Heirloom’s Tech: Uses limestone-based DAC to remove CO₂ directly from the atmosphere.
Aviation Decarbonization: Marks United’s third carbon capture investment, reinforcing its climate strategy.
Industry Leadership: Heirloom operates North America’s first commercial DAC facility, involved in Project Cypress.
Rapid Deployment: Four mobile gas turbines to provide 100MW+ dedicated power for a major U.S. AI hyperscaler, installation within 10 days.
Data Center Demand: Addresses utility power constraints, offering a fast & scalable energy solution for AI & cloud infrastructure.
Backed by Fortress: Part of an 850MW power portfolio owned by Fortress Investment Group, with Duos Technologies managing assets.
Project Overview: BrightLoop facility to convert coal, natural gas & biomass into carbon-neutral energy for AI data centers.
Carbon Capture Tech: Uses chemical looping & indirect oxygen transfer, enabling efficient CO₂ capture.
Energy Transition Impact: Strengthens West Virginia’s decarbonization strategy, backed by state & corporate partnerships.
Strategic Collaboration: Fidelis & B&W aim to integrate low-carbon power solutions globally.
Leadership Shift: Travis Stice to step down as CEO in 2025, remain Executive Chairman until 2026.
New CEO Appointed: Kaes Van’t Hof, current President, to become CEO & join Board at 2025 Annual Meeting.
Financial Leadership: Jere Thompson III promoted to CFO, reinforcing Diamondback’s Permian Basin growth strategy.
Board Evolution: David L. Houston to retire in 2025, with a focus on strategic succession planning.
Financial Performance: Q4 net income: $351M (+17% YoY EBITDA); full-year 2024 EBITDA: $4.14B, driven by record Permian NGL volumes.
Capital Returns: $755M share buybacks, $4.00/share annual dividend for 2025, and $3.5B new credit facility.
Growth Outlook: $2.6B–$2.8B capex in 2025, including Grand Prix NGL pipeline expansion & LPG export upgrades.
Badlands Refinancing: $1.8B equity refinancing expected to enhance liquidity and drive future investments.
Regulatory Milestone: First EPA-approved system to fully replace AVO & OGI inspections under methane OOOO regulations.
Cost & Compliance Advantage: Operators can comply immediately by updating annual reports, saving on inspection costs.
Tech Efficiency: Laser-based detection system cuts false positives, reduces gas loss, & improves leak response.
Industry Shift: Enables a shared-network approach, supporting low-carbon natural gas production & simplified regulatory compliance.
ONEOK Projects 11% Net Income Growth in 2025, Sets 2026 Expansion Targets
Capex & Dividend Strategy: $2.8B–$3.2B capex for 2025; targeting 3%–4% dividend growth while returning 75%–85% of cash flow to investors.
Check out the latest Sunya Stories podcast with Bala Nagarajan from S2G Investments
Bala Nagarajan is Managing Director of the Energy Investment team at S2G Investments.
You can find it on Spotify or Apple Podcasts.
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
